Last Wednesday Walter Energy (NYSE: WLT) reported Q4 results that missed estimates. Commenting on the news, analysts at Goldman Sachs said they continue to view Walter Energy as overvalued.

"This was the sixth quarter in the last eight that WLT missed consensus EBITDA estimates, with seemingly one-time items driving costs to be higher than expected again. To become more positive we would need to see: (1) better execution in Canada, preferably for successive quarters; (2) sharply higher met coal prices; (3) a higher probability of M&A; or (4) improved financial flexibility – potentially from restructuring or finding a partner to fund its growth projects," wrote analyst Andre Benjamin.

Goldman Sachs has a Sell rating on Walter Energy with a price target of $23.00

For an analyst ratings summary and ratings history on Walter Energy (NYSE: WLT) click here. For more ratings news on Walter Energy click here.